DUBLIN--(BUSINESS WIRE)--The "Medical Connectors Market by Product, by Application, by End User, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The growth in the market is boosted by the rising demand for
miniaturized connectors, progress in the medical devices industry,
increasing geriatric population and surgeries and increasing prevalence
of chronic diseases.
Based on product, the medical connectors market has been categorized into board to board, I/O rectangular, push-pull, radio-frequency, disposable plastic, hybrid circular connectors and receptacle systems, power/high voltage and other connectors. Board to board connectors occupied the largest share in the medical connectors industry throughout the analysis period as they conform to rigorous safety standards, including prevention of inadvertent plug disengagement and increased shock rating and further generated revenue of $725.8 million in 2016. Medical connectors used in diagnostic imaging devices generated revenue a $527.8 million in 2016.
Globally, hospitals were the largest end users of medical connectors market, contributing 38.3% share to the market in 2016. This leading position of hospitals among the various end user is due to the availability of various electronic equipment and devices in hospitals.
North America contributed the maximum revenue to the medical connectors industry during the analysis period, mainly due to the rising R&D infrastructure, increasing geriatric population, high healthcare expenditure and increasing prevalence of chronic diseases in this region. In 2015, the total investment in research and development (Medical and Health) was around $158.7 billion in the U.S. According to the data provided by the World Bank, around 30,537 surgeries were performed per 100,000 population in the U.S., in 2012, which states that the requirement for surgical devices increased, which further boosts the medical connectors market.
Globally, the key providers in the medical connectors market are launching new products to gain a larger market share. For instance, in August 2017, TE Connectivity Ltd. (TE), announced its cabled STRADA Whisper product line. This cabled STRADA Whisper connectors eliminate the need for printed circuit board (PCB) backplanes to achieve improved performance and flexibility as data speeds increase. In February 2017, ITT Technologies Corporation's Cannon brand introduced its ARINC 801 Fiber Optic Connector Series which has a high-bandwidth interconnect solution that provides maximum performance and reliability for commercial and military aviation, and shipboard systems.
Some of the other key players operating in the medical connectors industry include Amphenol Corporation, Delphi Automotive PLC, Smiths Group plc, ITT Interconnect Solutions (ITT Corporation), Fischer Connectors SA, LEMO SA, Samtec, Inc., Molex, LLC, and Esterline Technologies Corporation.
- Rising Adoption of Hybrid Connectors
- Drivers Growth in the Medical Devices Industry
- Rising Demand for Miniaturized Connectors
- Increase in Aging Population and Surgeries
- Rise in the Prevalence of Chronic Diseases
- Impact Analysis of Drivers on Market Forecast
- Growing Demand of Wireless Connectivity
- Stringent Regulatory Guidelines for Medical Connectors
- Impact Analysis of Restraints on Market Forecast
- New Sales Markets in Emerging Economies
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. Asia-Pacific Market Size and Forecast
Chapter 9. Rest of the World (RoW) Market Size and Forecast
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
- Amphenol Corporation
- Delphi Automotive PLC
- Esterline Technologies Corporation
- Fischer Connectors SA
- ITT Interconnect Solutions (ITT Corporation)
- LEMO SA
- Molex, LLC
- Samtec, Inc.
- Smiths Group plc
- TE Connectivity Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/5zcpv2/2018_global?w=4